What a real financial collapse looks like

What a real financial collapse looks like

Documentary on the events that led to the economic collapse of Argentina in 2001 which wiped out the middle class and raised the level of poverty to 57.5%. Central to the collapse was the implementation of neo-liberal policies which enabled the swindle of billions of dollars by foreign banks and corporations. Many of Argentina’s assets and resources were shamefully plundered. Its financial system was even used for money laundering by Citibank, Credit Suisse, and JP Morgan. The net result was massive wealth transfers and the impoverishment of society which culminated in many deaths due to oppression and malnutrition.


  1. Author
    ptsp 9 years ago

    The vid ends after an hour, you can watch the last parts on youtube here:

  2. admin 9 years ago

    The events of the last few days continue to be remarkable, alarming, chaotic, surreal, and desperate. The globe is slowly realizing that the United States is careening toward a probable financial death experience. Nothing has worked to date, and nothing will work in the present, not bailouts, not liquidations, not nationalizations, not papered over fraud, and surely rate cuts. The stark reality contains a blur of a massive locomotive derailed, having run over the mountain ledge, heading downward in a freefall, subjected to the force of gravity, and ripping through a gigantic erected paper net designed to halt its crash. CLOWNS IN CHARGE DO NOT REALIZE THE SYSTEM IS FLAWED AND BROKEN, AS EFFORTS TO REDOUBLE THE DEVICES ARE ALL DRAWN FROM THE SAME DEFECTIVE TOOLBAG. MAJOR BANK FAILURES, BANKRUPTCIES OF MAJOR FINANCIAL FIRMS (LIKE INSURANCE), AND INDIVIDUAL MARKET DEFAULTS COME VERY SOON. Incredible events are occurring behind the scenes, the details of which would shock most people, even those who deal with the underworld. Recall Wall Street propaganda this summer? That the US will be first to emerge from the carnage? Such lunatic promotional nonsense should be recalled when it becomes clear that the Untied States cannot emerge from its broken condition. The game is over, and only the enlightened realize it! What lies ahead is the tragedy of distintegration!!! That includes the nation and its very governmental structure.


  3. Author
    ptsp 9 years ago

    OPEC seems determined to take back control. The crash back to $70 reduced cash flow so severely that everyone is now paying rapt attention and if you can believe the news reports they are ready to take quick and decisive action once again. The fear prompting their call to action this time is the rapidly accelerating global recession prompted by the financial crisis. Demand has been falling sharply over the last eight weeks and some believe 2009 could be the first decline in demand on a global basis since 1983.

    Comments out over the weekend suggests the cut they are going to enact will be much more severe than analysts thought. OPEC chief and Algerian Energy Minister Chakib Khelil said OPEC needs to consider a cut of 1.5 million barrels or even two million barrels per day. Khelil said the cut has to be substantial in order to reassert price and balance supply and demand. Khelil said OPEC wants a stable price between $70 and $90 for all of 2009. He cited several countries where oil prices must be over $70 per barrel or they could not produce oil for a profit. The marginal cost of oil has risen over the last three years to between $70-$80 per barrel. Below that level some non-OPEC countries may decide to reduce production until prices return to a profitable level. This is setting up a potential crisis where production becomes volatile depending on price and that will accentuate price volatility.

    All of these moves are symptoms of peak oil although most would not believe a temporary excess in production is peak oil problem. Most peak oil theorists believe in an extended plateau where production and demand are nearly equal. As demand briefly exceeds production prices rise sharply. As prices rise demand declines sharply as we have seen over the last few months. Production suddenly exceeds supply again and prices drop sharply in response. The fall in prices, like we have seen over the last month brings back cheap gasoline, now under $3 per gallon, and consumption returns to normal growth patterns. The pattern then repeats over and over with overall demand eventually exceeding production on a permanent basis. This could take numerous cycles before the eventual permanent decline.


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